Yesterday I was helping someone get their 7270 running with uclibc 0.29 based firmware. Every time newcs was started, the memory key threw a fit. I couldn't could find any files, not even the dot files. The key was still mounted. I could umount it, stop newcs and remount it, no probs... We were using a phoenix card reader with it.
Could it be that the problem has to do with statically linked programs and uclib v0.29 / kernel?